re: Ann: Company Interview - KGL Strong Cash ... Here are my...

re: Ann: Company Interview - KGL Strong Cash ... Here are my thoughts:

1) Simon Milroy was over ambitious with Murchison and probably a little bit naive/over confident from the success of his previous projects for Kingsgate/PanAust.

2) Simon Milroy IMO is an honourable man with the best intentions for the company. He is not a man that will continually raise money so he gets a paycheck. He cares for the company and his reputation as the MD. He will be fighting to regain some trust from shareholders.

3) We WILL sell Murchison after 31 Dec for 10-20m. If we sell it before Dec 31, we will have to pay towards the creditors so we will almost certainly sell it as soon the calender year ticks over. There was a prospective buyer when gold was at $1300-1400 for 13m, if gold is at $A1600, I think 20m is realistic.

4) We have a stake in the Bashkol gold project and the Solomon Islands Geothermal project without having to spend on exploration. Both projects have decent upside and I believe the Geothermal project in particular has a very good chance of going ahead.

If we get decent results from Jervois and sell Murchison in January, we can expect to recoup some of our losses. Will be a very good time for disgruntled holders to exit, particularly if the sector is showing signs of life.